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SCENARIO 16-17
Given Below Are the Prices of a Basket

question 216

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SCENARIO 16-17
Given below are the prices of a basket of four food items from 2008 to 2012.  Year  Wheat($/Bushel)  Corn($/Bushel)  Soybeans($/Bushel)  Milk($/hundredweight) 20084.253.717.4115.0320093.432.77.5513.6320102.632.36.0515.1820112.111.974.6814.7220122.161.94.8112.32\begin{array} { c r r r r } \hline \text { Year } & \text { Wheat(\$/Bushel) } & \text { Corn(\$/Bushel) } & \text { Soybeans(\$/Bushel) } & \text { Milk(\$/hundredweight) } \\\hline 2008 & 4.25 & 3.71 & 7.41 & 15.03 \\2009 & 3.43 & 2.7 & 7.55 & 13.63 \\2010 & 2.63 & 2.3 & 6.05 & 15.18 \\2011 & 2.11 & 1.97 & 4.68 & 14.72 \\2012 & 2.16 & 1.9 & 4.81 & 12.32\end{array}
-Referring to Scenario 16-17, what is the unweighted aggregate price index for the basket of
four food items in 2011 using 2008 as the base year?

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An innovative methodology that involves thinking outside the box to solve problems or generate new ideas.

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